Navdeep Bains has been mandated with directing Canadian business toward a new-economic future and tackling decisions on the growth of industry.<\/p>\n
Mr. Bains is now Minister of Innovation, Science, and Economic Development, a portfolio that used to be called Industry, but was renamed to reflect the new-economy mission. His goals include encouraging R&D and helping businesses scale up and go global. He hopes to develop an \u201cInnovation Agenda.\u201d<\/p>\n
Bains oversees a multibillion-dollar government department in charge of Canada\u2019s industrial policy and sees himself as the voice of business at Prime Minister Justin Trudeau\u2019s cabinet table.<\/p>\n
He is responsible for deciding whether Ottawa should invest money into aerospace manufacturer Bombardier Inc. and its C-Series airliners, and planning federal support for the auto sector if Canada ratifies the Trans-Pacific Partnership trade deal.<\/p>\n
The bridge between new-economy innovation and old-economy subsidies has a new theme under the Liberals. Even though the Conservatives subsidized industry, their rhetoric was often skeptical of government\u2019s role. The Liberals on the other hand, stressed new-economy innovation and came to power promising growth, jobs and thriving industry.<\/p>\n
Bains believes that when it comes to old-school industries such as the auto sector, innovation is an important factor. Canada has lost assembly-line projects to low-wage areas such as Mexico, although he agrees that attracting them is a challenge, labour costs are only a small part of the equation.<\/p>\n
Perhaps the new Minister will also re-examine the benefits of jump starting Canada\u2019s business immigration programs an area that was largely eliminated under the conservatives.<\/p>\n
Interested employers:\u00a0<\/strong>Kindly contact us\u00a0here<\/a>\u00a0to receive further information.<\/p>\n